Give ‘em some Stick

In an age of bullshit, Warren Buffett is the Sage of Omaha because he does not indulge in the world's most freely available commodity - more bullshit.

And then of course he buys simple businesses and holds the investment for years. Along the way he takes advantage of good companies that are short of cash and buys in at cheap or distressed prices. All very simple, so it is refreshing when you realise there are a number of very good fund managers in the UK that follow much the same principles. Among those is Carl Stick, whose Rathbone Income fund has just celebrated its 40th year. Stick is not quite the Sage of Oxford Street, but he spoke common sense recently at a lunch to mark the fund’s anniversary that it deserves recognition. Ove...